Ko-bolt

Ko-bolt Prevent

Ko-bolt Risk Technologies - Prevent

Digital fraud prevention software

We're on a mission to reduce Bad Debt

Ko-bolt is a specialist commercial debt resolution and risk mitigation company

Why – We believe that no business should fail as a result of bad debt

How – Product innovation, technology and an ethos which puts the customer at the heart of everything we do

What – We exist to ensure that businesses have the right tools to avoid bad debt, legitimate and illegitimate

Seamless

Integrated with your system via an open API

Rapid

Automated service provides results in seconds and investigations are completed within 24 hours

Accurate

The system has already saved millions of pounds in cover against fraudulent risks

Collaborative

This problem effects every insurer in the industry. Working together, we can identify more of these risks

Available

Accessible 24-7 through the API or dashboard

The silent problem of long-term fraud

fraud prevention, debt collection, debt collector, Reduce Bad Debt

The pandemic has affected all businesses, but there’s been a silent problem developing which was set in motion way before the word COVID was uttered, long-term fraud.

Long-term fraud can be broken down into 2 categories;

  • General defrauding of suppliers by fake companies masquerading as legitimate enterprises that appear to be financially strong enough to warrant credit
  • Fraudulent companies which work in collusion with fraudulent suppliers with the intent of defrauding credit insurers and invoice finance providers

Who’s behind these enterprises?

  • Organised Crime – Relatively low risk for high reward. Very sophisticated operations with meticulous planning, but requiring very little investment. Large scale
  • Unsophisticated Crime – usually individually led and opportunistic
  • Legitimate companies which, due to financial pressure, turn illegitimate

The Solution - Ko-bolt Prevent

Fraud isn’t considered as fraud unless it’s proven in a court of law. These criminal enterprises are highly sophisticated and leave little or no trace of their identity, so prevention is key. Ko-bolt Prevent is a revolutionary product which uses a complex algorithm and machine learning to detect long-term fraud at the underwriting stage, disrupting fraudulent activity and preventing the risk of claims.

fraud prevention, debt collection, debt collector, Reduce Bad Debt

How does it work?

Ko-bolt Prevent takes data from a variety of sources and blends it together to produce a risk score. Where this score is low, no further action is required. But, where the score exceeds the acceptable parameters (1 in 100 requests), it is referred to our team of specialists for investigation. The team will then deep dive into the data to verify the legitimacy of the business and the results are updated via the API within 24 hours.

fraud prevention, debt collection, debt collector, Reduce Bad Debt
Ask us for a demonstration and see how much you could be saving with Ko-bolt Prevent